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Aspex EA Review

Aspex EA

Aspex EA is a trading algorithm produced by Aspexfx limited and trades on various financial instruments. The vendor claims that the company was founded in 2017 by software engineers. It is said that the algorithm follows strict risk management to produce a profitability rate of 90-95%. Read this review to get a detailed analysis of profitability and all pros and cons of this expert advisor.

Aspexfx EA trades on the Metatrader MT4 platform. The developer states that the system uses a pure trend following strategy and an advanced risk and lot management system. The expert advisor trades on all currency pairs and timeframes. The live records from MQL5 show that the algorithm started working from 16.12.2021. So, the system’s maturity is just three months.

What is behind the Aspex EA?

Aspexfx limited is the developer of this system. Unfortunately, there is very little information about the firm. The vendor provided no certificates, proper contact information, and social handles.

How it works

To install this expert advisor, follow these steps:

  1. Buy the robot from the website
  2. Download the files on your PC
  3. Launch MetaTrader 4 platform
  4. Put the algorithm files in the experts ‘folder and refresh the experts’ tab
  5. Drag the files onto the charting section and start trading

The algorithm will scan the charts based on the coded information and trade accordingly. There is no need for manual intervention.

Key features

The algorithm has the following key features:

  • The expert advisor is 100% automated.
  • It’s convenient to install and use.
  • The robot can trade on multiple timeframes (H4).
  • It can trade on all currency pairs.

Trading strategy

Apart from the pure trend following strategy and multi-currency trading, the author has no information on the strategy part. We head over to the live records on MQL 5 marketplace to observe the methodology. From there, it is evident that the system uses averaging and martingale. There is no fixed stop loss attached with trades, and the lot size increases aggressively as the market enters in the negative direction.

Trading history on MQL 5 marketplace

Trading history on MQL 5 marketplace

The expert advisor’s profitability and credibility cannot be fully analyzed because the developer provides no backtesting data. We cannot understand the value of the robot’s drawdown value, profit factor, historical win rate, etc.


The robot comes with two packages; one license for 499 USD, while two activation keys will cost 899 USD. Both options come with unlimited usage.

The customers can buy the EA by using Visa, MasterCard, Paypal, Discover, American Express, Union Pay, etc. The price of the algorithm is very high compared to other robots available in the market.

Pricing of Aspex EA

Pricing of Aspex EA

Trading performance of Aspex EA

The live trading results of Aspexfx are available on the MQL5 portal. The system started working from December 2021, until the current date.

Live trading stats on MQL5

Live trading stats on MQL5

The developer put an initial deposit of $24201.43 into the account. The system shows a growth of -93.81% and a recovery factor of -0.26. The expert advisor participated in 495 trades, out of which 408 executions were won, and 87 were lost.

Growth graph from live trading records on MQL5

Growth graph from live trading records on MQL5

The maximum drawdown value of the algorithm stands at 99%, which states that the account has reached the margin call. A significant difference can be seen in the average profit of the EA, $335.23 and the average loss, which stands at -$1821.78. The profit factor of the bot is 0.86, with the worst trade of -$26850. After analyzing the given stats and records, we can see the terrible performance and unclear strategy.

Drawdown graph from live trading records on MQL5

Drawdown graph from live trading records on MQL5

Customer support

The vendor states that traders can contact them through email and live chat, available on the developer’s website. The developer doesn’t claim any 24/7 customer support.

People feedback

One buyer feedback is available on Forex Peace Army, where he shares his bad experience with the expert advisor, labeling the product as terrible and dangerous.

The customer review on FPA

The customer review on FPA

Aspex EA Summary: Worth it or not?


Aspexfx EA comes with no backtesting records to analyze its historical performance. The vendor keeps us blind in providing information about the firm and trading experience in the forex market. The robot only has one review on Forexpeacearmy, where the customer is not happy. Money-back guarantee and 24/7 support are also not available.

  • The system is 100% automated
  • No Backtesting data
  • Terrible drawdown value (99%)
  • Little information about the developer

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